What are brands good for?
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Transcript of What are brands good for?
![Page 1: What are brands good for?](https://reader030.fdocuments.us/reader030/viewer/2022032623/55d0489cbb61ebf8618b4741/html5/thumbnails/1.jpg)
What are brands good for?
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Brands are an indispensable part of modern business
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Brands promise to provide a clearly stated benefit
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And sets them apart from the rest of their competitors
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Brands are remarkably efficient in “aggregating” customers
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The information revolution is undermining the logic of “aggregation”
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Consumer “disaggregation” is more efficient and profitable than “aggregation”
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Consumer “disaggregation” is moreflexible, adaptive and responsive to
consumer needs
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It effectively and efficiently drives ”two way communication”
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Core areas of “Brand Management”
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Consumer relationship
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Channel relationship
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Organization of brand management
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The most valuable strategic function is to “build consumer relationships”
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“Two-way” flow of communication builds relationships that grow
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Advantages of disaggregate marketing
• Quicker to respond to consumer needs
• Better ability to tailor their offerings• Influence customer buying
patterns• Reduced costs• More efficient targeting
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How disaggregationdoes it better....
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Building trust and credibility
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Communicating a key benefit
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Charging a price premium
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Increasing sales volume
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Increasing likelihood of purchase
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Responding to competitor’s moves
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“Disaggregation restores the imbalance of power between the manufacturers and theretailers”
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is providing to be an impediment to the adoption of consumer level disaggregation initiatives
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Disaggregation’s impact on brand management
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So, the focus point should be on the consumers rather than the brand
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We need 3 elements in the new structure
1.Relationship-building entity and mechanism
2.Targeted communications that can exert a tactical influence on customer behaviour
3. Obtaining expertise in new-product and brand development so that the portfolio of products can be continually
rejuvenated
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Other changes in the new structure
• Required in the measures they use to gauge success
• Required in incentives and awards used to motivate people
• The way they deploy resources to the market
• The manner in which teams co-ordinate their market opportunities
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Created by Yash Akshay Reddy, SVCE during an internship by Prof. Sameer Mathur,IIM Lucknow www.iiminternship.com